I’m not looking for advice to see if this would be profitable or not, right now I’m looking for first-hand experience with allowing guests the use of gym equipment and the liability that may come with it.

Most investors either qualify as Real Estate Professionals or use short-term rentals to achieve similar goals.

Hi everyone, I have a personal goal for the year of 2024 of achieving 200K in profit from flipping properties before Dec 31, 2024. 

Using the LLC asset only makes more sense to me, but I've heard it from tax attorneys for example that the appraised value is what's used each year, until The Person owns 100%, then it's game over.If anyone has direct knowledge or first hand experience or can point me to a specific reference document (IRS perhaps?)

Depending on the LTV, FICO and PPP you may achieve a low 7% rate on a 30 yr fixed loan 

If you do the work on the front end, you can save all those taxes paid and get some additional benefits from holding the properties, and still achieve your freedom level. 

I’m looking for advice on how to setup a structured partnership with my in-laws so that both parties achieve their goals.

Yep as said above, DSCR is typically the way to still achieve 30 year amortization, fixed rate at 75-85 LTV. 

The successful sale at $319,000 underscored the value of strategic planning, effective management, and robust partnerships in achieving high profitability in real estate investments.

Your challenge will be that the taxing authority has already take about 15% off the actual market value to achieve a "just value" of your property.